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Showing 861 - 870 of 1609 results for "Investigation"

Small licensees are PI insurance compliant: ASIC

KARREN VERGARA  |  WEDNESDAY, 30 AUG 2017
... financial services licensees are meeting professional indemnity (PI) insurance obligations, according to an ASIC investigation. ASIC's review included 56 small AFS licensees with 20 or less authorised representatives and revenue of $2 million or less. ...

ASIC flags stronger adviser surveillance

KARREN VERGARA  |  WEDNESDAY, 23 AUG 2017
About $618.8 million was paid in compensating and remediating corporate misconduct in the six months to June - almost a fourfold increase on the second half of 2016. During the period, ASIC removed 23 individuals from working in financial service; commenced ...

ASIC and CBA discussing potential advice problem

EMMA RAPAPORT  |  TUESDAY, 15 AUG 2017
... the number of customers impacted is expected to be below 1000," CBA said. "We are currently undertaking a detailed investigation back to the year 2000 to confirm the number of affected customers and will contact their estates and remediate if appropriate." ...

Fatigue and profit-based incentives driving risk culture

JAMIE WILLIAMSON  |  THURSDAY, 10 AUG 2017
... risk policy. "This finding should be treated with caution due to the small sample (10%) but it warrants further investigation. If confirmed, it may mean that additional work is needed to improve risk culture in this sector," FINSIA said. The study also ...

CBA faces anti-money laundering allegations

EMMA RAPAPORT  |  FRIDAY, 4 AUG 2017
... more than $17 million were deemed to be related to transactions connected with money laundering syndicates under investigation by the Australian Federal Police. IDMs can accept up to 200 notes per deposit, or up to $20,000 per cash transaction. CBA does ...

Advice business offers enforceable undertaking

JAMIE WILLIAMSON  |  TUESDAY, 1 AUG 2017
Financial Index Australia entered into an enforceable undertaking with ASIC after an investigation found advisers had moved clients into more expensive, FIA-branded products without reason. ASIC identified a number of issues within FIA's financial advice ...

ASIC advances towards telecommunication intercept powers

EMMA RAPAPORT  |  FRIDAY, 21 JUL 2017
... Review Taskforce position paper, are hoped to boost the regulators ability to gather information relating to the investigation and prosecution of serious corporations offences, including information obtained from telecommunications interception warrants. ...

FOFA breach sees former adviser banned

JAMIE WILLIAMSON  |  THURSDAY, 20 JUL 2017
... in the best interests of the clients as he had not identified the subject matter of the advice; conducted a sound investigation into the financial products that might achieve the objectives and the needs of the client that would reasonably be considered ...

Sydney RE to pay for false ads

JAMIE WILLIAMSON  |  MONDAY, 17 JUL 2017
The Federal Court of Australia penalised a Sydney-based managed investment services boutique for falsely claiming that its projects were approved by ASIC. Huntley Management operates as a responsible entity and custodian for registered schemes and as ...

Police charge man with super fraud

KARREN VERGARA  |  WEDNESDAY, 12 JUL 2017
... false documents. He was arrested in Bondi yesterday, refused bail and is due to face Waverly Local Court today. The investigation is ongoing, NSW police said in a statement. The arrest is part of Strike Force Garigal, established by detectives in December ...